The Bitcoin Core Sponsorship Programme has recently been announced, which is dedicated of foster innovation in the world of Bitcoin and digital currencies. There is a lot of research and development waiting to be completed, and keeping in mind how Bitcoin Core powers the majority of the existing Bitcoin infrastructure, it makes sense to ask for help.

Bitcoin Core Sponsorship Programme is Important

Even though the ongoing “battle” between Bitcoin Core and Bitcoin Classic is still going up, the Bitcoin Core Sponsorship Programme is not about adding more nodes or mining pools to the network. Instead, this concept goes well beyond just financial aid, as more developers and researchers are needed. Providing the proper incentives seems to be the way to go if more people need to be attracted to the Bitcoin world.

Most people are well aware of the open source nature associated with Bitcoin Core, and voluntary efforts are the main reason the Bitcoin ecosystem has grown exponentially over the years. As the ecosystem grows bigger and better, more helping hands are required to keep the momentum going. Several companies in the Bitcoin space have started to contribute developer resources, although more funding is desperately needed as well.

By introducing the concept of sponsorships to further the development and research of Bitcoin Core, an exciting milestone has been reached. Adding more features to this Bitcoin software solution will require compatibility screening and any submitted project that has achieved “some” consensus among the community will have a better chance of being accepted.

As mentioned before, there is a double-pronged approach to the Bitcoin Core Sponsorship Programme. First and foremost, additional developers need to be recruited to carry out code reviews and testing on a regular basis. Additionally, there will be a bigger focus on communication and PR, to keep the community informed regarding the progress of Bitcoin Core development.

The other part of the focus for the Bitcoin Core Sponsorship Programme will be on bringing additional funding to the future of Bitcoin development. Some people may recall how several Bitcoin developers are being funded by MIT Media Labs for the past year or so, but more than three people are developing and maintaining the Bitcoin Core repository on Github.

It is important to keep in mind decentralization will be respected regardless of the funding or projects submitted through the Bitcoin Core Sponsorship Programme. Individual projects will be monitored by a project manager, who bears all of the responsibility for expenses and reporting. Smaller donations will not be accepted at this time, as the Bitcoin Core Sponsorship Programme is tailored for industry participants.

What are your thoughts on the Bitcoin Core Sponsorship Programme? Will this be a success to further advance Bitcoin development? Let us know in the comments below!